Northern Trust Corp Boosts Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Northern Trust Corp lifted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,447 shares of the company’s stock after purchasing an additional 9,866 shares during the period. Northern Trust Corp owned 0.52% of European Wax Center worth $1,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Highland Peak Capital LLC purchased a new stake in shares of European Wax Center in the 4th quarter worth $2,745,000. CenterBook Partners LP increased its stake in shares of European Wax Center by 42.2% in the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after purchasing an additional 509,991 shares in the last quarter. Kazazian Asset Management LLC purchased a new stake in shares of European Wax Center in the 4th quarter worth $1,782,000. SG Americas Securities LLC increased its stake in shares of European Wax Center by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after purchasing an additional 1,690 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of European Wax Center by 7.6% in the 4th quarter. American Century Companies Inc. now owns 50,616 shares of the company’s stock worth $338,000 after purchasing an additional 3,584 shares in the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

European Wax Center Stock Down 2.5%

EWCZ opened at $5.15 on Monday. The firm has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $5.42. European Wax Center, Inc. has a 52 week low of $2.72 and a 52 week high of $12.04. The company has a market capitalization of $284.31 million, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. The business had revenue of $51.43 million during the quarter, compared to the consensus estimate of $49.70 million. Analysts forecast that European Wax Center, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on EWCZ shares. Truist Financial upped their price objective on European Wax Center from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a report on Tuesday, March 11th. Morgan Stanley dropped their target price on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Citigroup upped their target price on shares of European Wax Center from $4.50 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Finally, Robert W. Baird dropped their target price on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.00.

European Wax Center Company Profile

European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. The company was founded in 2004 and is headquartered in Plano, Texas.